Sheridan Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 92 $5 $460 1/20 Purchase 368 $6 2,208 7/25 Purchase 184 $7 1,288 10/20 Purchase 276 $8 2,208 920 $6,164 A physical count of inventory on December 31 revealed that there were 440 units on hand. Answer the following independent questions. (Round average per unit cost to 2 decimal places, e.g. 15.25 and other answers to O decimal places, e.g. 1,525.) 1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is 2. Assume that the company uses the Average-Cost method. The value of the ending inventory on December 31 is 3. Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is 4. (a) Determine the difference in the amount of income that the company would have reported if it had used the FIFO method ins 4. Would income have been greater or less? (b)